Finding Funds for Your Franchise
Financing your franchise is one of the most important parts of the entire investment process. Knowing which funds you will allocate to the franchise and what sources those funds will come from are all critical decisions. Actually, physically finding your financing can be an exercise in patience, but also one that will pay off when you are in charge and successfully running your business. While the difficult credit market has forced some investors to look to non-traditional financing means, banks and creditors are still making loans, and the right business plan can help secure the financing you need.
Your business plan can make your Franchise deal stand out!
If you thought you could get away with securing the right financing without a plan, you thought wrong. A well thought out business plan is a major indicator of a successful businessperson, and banks and creditors know this. If they know it, so should you!
Parts of a business plan:
- Executive Summary: This section features the highlights of your plan and sells your idea in two pages or less.
- Company Summary: This section is a factual description of your company, ownership, and history.
- Products (or Services or both): This section will describe your products and/or services and how they stand out from competitive products and services.
- Market Analysis: This section provides a summary of your typical customers, competitive landscape, market size, and expected market growth.
- Strategy and Implementation: This section will describe how you will sell your product, how you will put your plan into action, and establishes milestones for your business.
- Management Summary: This section provides background on the management team, their experiences, and key accomplishments.
- Financial Plan: This section will include key financials including sales, cash flow, and profits
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Tags: franchise, franchise advice, franchise financing, Franchise Tips
